Peregrine presents ‘transformational’ proposal for Pawtucket | The Valley Breeze
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5
Peregrine presents
‘transformational’ proposal for
Pawtucket
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Development would bring commercial space, apartments, parking garage
By ETHAN SHOREY, Breeze Online News Editor
PAWTUCKET - Local developers have finally unveiled their plan for a new
commercial and residential development on 11 acres of prime land at 45 Division
St., a proposal officials are saying will transform the riverfront and help the city
transition to the future.
The plan, presented Tuesday by Mayor Donald Grebien and the Peregrine Group
LLC, includes a mix of market-rate residential apartments, commercial and retail
space, and a parking garage.
The property, long targeted by officials as a priority for economic development, will
finally be turned into a beautiful mixed-use complex with riverfront views and
public access, say city leaders. The proposal also calls for a public river walk that
connects to a newly renovated and revitalized Festival Pier.
The development at 45 Division St. would complement a newly-completed medical
and physical therapy center next door at 21 Division St. as a foundation for future
economic growth in the area, say officials.
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The preliminary proposal calls for about 8,000 square feet of commercial/office
space. Additionally, 214 residential apartment units totaling 26,000 square feet
would also be built along with surface and garage parking to accommodate more
than 500 vehicles.
The project, which is expected
to cost $40 million or more,
could get off the ground in
two years, said company
officials, but there is plenty of
work to be done, including
cleanup of some pollution on
the site.
Officials initially sent out a
http://www.valleybreeze.com/2015-07-07/pawtucket/peregrine-presents-transformational-proposal-pawtucket[7/8/2015 12:58:49 PM]
Peregrine presents ‘transformational’ proposal for Pawtucket | The Valley Breeze
request for qualifications to
private developers to gauge
interest in the parcel and
ensure that the eventual
successful bidder would be
qualified.
The RFQ resulted in three qualified bidders responding, including the Peregrine
Group, the Tai-O Group, and Apex Development. The city then issued a request for
proposals to the three bidders. Pawtucket's economic development team met with
each bidder to discuss the city's goals and priorities at the site. At the end of the
process, the Peregrine Group submitted a qualified proposal for the property.
The 11 acres of land diagonally across from the new Pawtucket River Bridge was
previously tied up in a three-year legal dispute with a developer that ended in 2012.
City officials took back the property in 2009 after representatives for Carpionato
Properties failed to complete construction of a 100-room hotel within a 48-month
timeframe. Pawtucket had a strong "reverter clause" that allowed officials to take
back the property.
Pawtucket officials tell The Breeze they're much more optimistic about the latest
proposal, as the East Providence-based Peregrine Group has a track record of
success, including the successful redevelopment of the downtown Chester Building
as a home for Pet Food Experts.
To ensure a thorough analysis of the proposals, the city put together a four-member
evaluation team composed of Barney Heath, director of planning and
redevelopment, Aaron Hertzberg, executive director of the Pawtucket Foundation,
Peter Hayes, partner at Hayes & Sherry, and Paul Greisinger, president of
Capstone Properties. This team reviewed the proposal and did extensive work
examining the economic impact that this project would yield for the city. The team
has now recommended that the city move forward with Peregrine's proposal.
"This transformational proposal has the potential to serve as a catalyst to drive
future economic growth along the Pawtucket riverfront," said Grebien. "I am truly
excited by the proposal that we are forwarding to the council today and its
implications for our city. This development proposal is indicative of the sweeping
positive change happening in the city of Pawtucket right now."
The proposal now heads to the City Council for review and approval in accordance
with the City Charter.
Representatives for the Peregrine Group said they share the vision and
commitment to the city.
"We look forward to working with our partners in the city of Pawtucket, the
Pawtucket Foundation, the Pawtucket Redevelopment Agency, and our nearby
neighbors to create a lively campus that is a great place to live, work and play,
while also enhancing public access to the waterfront and supporting downtown
businesses by adding population," said Peregrine Principal Colin Kane in a
statement.
"The site is beautifully situated on the Seekonk River within walking distance to the
newly-renovated Festival Pier, an increasingly dynamic downtown, and Memorial
Hospital, with the added bonus of quick access to I-95. We are thrilled to be
working in a pro-business city with strong and capable leadership."
The announcement of the Peregrine proposal development is the latest installment
http://www.valleybreeze.com/2015-07-07/pawtucket/peregrine-presents-transformational-proposal-pawtucket[7/8/2015 12:58:49 PM]
Peregrine presents ‘transformational’ proposal for Pawtucket | The Valley Breeze
in a string of success for the waterfront. Officials last month celebrated the
reconstruction of the river wall behind City Hall and cut the ribbon on the first
phase of a future bike path. The renovated Festival Pier next to 45 Division St. was
also dedicated.
An aerial rendering showing the layout of the proposed development.
How Peregrine's development might look from Division Street.
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Comments
Why don't they....
Permalink Submitted by veteran on Tue, 2015-07-07 16:04
Put the new Pawtucket Red Sox Stadium there ?
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uh huh
Permalink Submitted by Chats on Tue, 2015-07-07 18:33
"Representatives for the Peregrine Group said they share the vision and
commitment to the city."
Why does it seem like the phrase "and we hope you will shoulder most of the cost"
is in there
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Hahahahaha
http://www.valleybreeze.com/2015-07-07/pawtucket/peregrine-presents-transformational-proposal-pawtucket[7/8/2015 12:58:49 PM]
Peregrine presents ‘transformational’ proposal for Pawtucket | The Valley Breeze
Permalink Submitted by veteran on Tue, 2015-07-07 20:32
You got that right.
The Peregrine Group. Always looking for a handout.
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More power to you
Permalink Submitted by Northern Exposure on Wed, 2015-07-08 12:02
Catalyst? Transform? Positive? Dynamic? Transition? Sounds like a power plant
is in the works. Coal? Nuclear? Water? Solar? Wind?
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